February 8, 2023
The global space economy’s growth will simultaneously allow India to bolster its current technological capability
India is expected to turn into a significant player in the space industry
Over the last sixty years, India launched its satellites and has also put more than 400 satellites of other countries in orbit
The space industry was valued at US$ 350 billion last year
The global space economy is expected to become US$ 1 trillion in the coming years, according to A S Kiran Kumar, former chairman of the Indian Space Research Organisation (ISRO). The space industry was valued at US$ 350 billion last year.
According to Kumar, the growth will facilitate major opportunities for India’s youth, and will simultaneously allow India to bolster its current technological capability—eventually turning it into a significant player in the space industry.
Over the past sixty years, India launched its satellites and has also put more than 400 satellites of other countries in orbit. Kumar mentioned that India is one of the few countries with end-to-end capability of building rockets, satellites and payloads.
Recently, ISRO and NASA jointly developed an Earth-observation satellite called NISAR (NASA-ISRO Synthetic Aperture Radar), which will be used to study Earth’s dynamic land and ice surfaces.
Sources: Business Standard | Indian Express